Commercial Fraud
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Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
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- Insurance Journal Fan
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- Location: San Juan, Puerto Rico
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Commercial Fraud
Hello, Need some light as how to insure a retail store for cell phones and calling plans from fraudulent contracts where the insured sustains a financial loss since the plan includes the phone equipment and it is stolen as result of the fraud.
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- Insurance Journal Addict
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- Location: Greater Los Angeles Area
Re: Commercial Fraud
Hrm...interesting situation here. Might start by looking at the crime/fidelity markets.
However, my gut tells me that this might end up being an uninsurable cost of doing business in the end.
However, my gut tells me that this might end up being an uninsurable cost of doing business in the end.
Michael Trouillon
Greater Los Angeles area
Consultant/Trainer agency automation system
Industry since 82
Past: Compliance Mgr master pol pgm, Ops Mgr, Marketing Mgr, Account Mgr
Greater Los Angeles area
Consultant/Trainer agency automation system
Industry since 82
Past: Compliance Mgr master pol pgm, Ops Mgr, Marketing Mgr, Account Mgr
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- Insurance Journal Fan
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Re: Commercial Fraud
You can go for any of the Commercial Insurance plan which covers all risk according to your needs. I would suggest you to get quot from three to four companies and compare them and go for the which suits you the best.
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- Insurance Journal Addict
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Re: Commercial Fraud
I am in agreement with pita3333 on this one. Unless you are dealing with a large risk, I am sure that one will be using a BOP policy. It is my expereince that one of the clauses contained therin is an exclusion for false pretense coverage which will exclude property coverage for that property you have entrusted induced by any fraulent scheme. You might find coverage with a Fidelity company, but i don't believe the cost will be feasible to the insured. I am afraid this risk will need to be retained by the insured as a cost of doing business.